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Venezuela’s Maduro Signs Law Creating Special Economic Zones

July 20, 2022, 11:45 PM

Venezuelan President Nicolas Maduro signed a Special Economic Zones law, which will allow the government to offer tax, financial and legal incentives to attract national and international investment in selected regions of the country.

  • The organic law creates “special conditions for economic trust,” Maduro said on state TV
  • Maduro decreed the first five special economic areas: Paraguana peninsula in Falcon state; Puerto Cabello-Moron in Carabobo; coastal La Guaira near Caracas; Margarita Island in Nueva Esparta state; La Tortuga Island
  • NOTE: April 27, 2021, Venezuela Legislators Submit Bill on Special Economic Zones

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